BERLIN: Germany plans to take a 4.1 percent stake in the new China-led Asian Infrastructure Investment Bank (AIIB), making it the fourth-biggest member, according to a finance ministry draft document seen by Reuters on Tuesday.
A total of 57 countries, including Britain, France and Iran, have joined the AIIB, which is seen as a rival to the Western-dominated World Bank and a major plank in spreading China`s "soft power".
It was launched in Beijing last year to support investment in Asia in transport, energy, telecommunications and other infrastructure. The articles of agreement are expected to be ready for signing at the end of June.
Germany will be the fourth-biggest shareholder in the $100 billion lender after China, India and Russia. It plans to contribute around $900 million in the period 2016-2019 and take on $3.6 billion in guarantees from 2016, according to the document.
The German cabinet is due to vote on the AIIB foundation documents on Wednesday.
